- Campbell Soup (CPB -7.3%) CEO Denise Morrison called the packaged foods industry "challenging" as consumers change their preferences and new competition continues to step in.
- “Several variables are at play including value players expanding their presence in the U.S., the growth of store brands and the explosion of e-commerce and meal delivery services disrupting the market,” according Morrison. "We expect conditions to remain hyper competitive for the foreseeable future," she warns.
- Kraft Heinz (KHC -1.6%), B&G Foods (BGS -1%), Mondelez International (MDLZ -2.3%), Archer Daniels Midland (ADM -1.6%), Blue Apron (APRN -1.7%) and Conagra Brands (CAG -1%) are all lower as investors eye the frank comments from Campbell's chief.